IFRS and US GAAP authorised CMUCPP in terms of the Daily CPI automatically maintains the constant purchasing power of capital and all constant real value non-monetary items (shareholders´ equity,
provisions, salaries, wages, pensions, taxes, trade debtors/creditors, etc) only when updated daily in terms of the Daily CPI during low, high and hyperinflation and deflation - ceteris paribus. European Accounting Association: "Capital maintenance is a competing objective of financial
reporting."

When constant items are never updated, their real values are destroyed by accountants implementing the stable measuring unit assumption.

Accountants normally update or inflation-adjust some income statement items, eg. salaries, wages, rentals, etc in all low inflation economies, including in SA.

The only way the real value of shareholders´equity can be maintained under Historical Cost Accounting is when 100% of the original updated real value of all contributions to shareholders´ equity are invested in revaluable fixed assets that are continuously revalued via the Revaluation Reserve.

It is very unlikely that any company invests 100% of the original updated real value of all contributions to shareholders´ equity in revaluable fixed assets.

This means that the real value of all retained earnings in all banks and companies are unknowingly being destroyed at a rate equal to the annual rate of inflation by SA accountants implementing the stable measuring unit assumption.

Daily CPI

"Monetarias y Financieras""Descarga de paquetes estandarizados de series estadísticas":At the bottom of the page you will see: "Coeficiente de estabilización de referencia (CER), serie diaria", then choose a year and open the excel file.

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